Monster Beverage Beats Q4 Views; Coke Deal To Close In Q2
Monster Beverage Corp (NASDAQ: MNST) ticked up in Thursday's extended session after the company beat fourth-quarter expectations and said its partnership deal with The Coca-Cola Co (NYSE: KO) will close in the second quarter.
The Corona, California-based company changed hands recently at $131.49, up more than 5 percent.
Coke agreed in August to acquire a 16.7 percent stake in Monster for $2.15 billion in cash. The deal had initially been expected to close late in 2014 or early in 2015.
Monster's net income for the recent period increased 64.7 percent to $125.3 million, or $0.72 a share, from $76.1 million, or $0.44 a share in the same quarter last year.
Sales grew 12 percent to $605.6 million from $540.8 million a year earlier.
Wall Street expected fourth-quarter earnings of $0.59 a share, on sales of $584.46 million.
Chief Executive Rodney Cyril Sacks said the company is "making good progress in working through transitional issues" related to its deal with Coke announced in August.
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